Connecticut Seal

General Assembly

Amendment

 

January Session, 2007

LCO No. 7220

   
 

*HB0689707220HRO*

Offered by:

 

REP. HAMZY, 78th Dist.

 

To: Subst. House Bill No. 6897

File No. 640

Cal. No. 515

Strike section 2 in its entirety and insert the following in lieu thereof:

"Sec. 2. Section 49-10a of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2007):

(a) A mortgagee shall, upon written request of the mortgagor or the mortgagor's attorney or other authorized agent provide a payoff statement in writing to the person requesting [such] the payoff statement on or before the date specified in such request, provided such request date is at least ten business days [from] after the date of receipt of the written request for a payoff statement. If the request is made in connection with a default, the mortgagor's attorney may make such written request directly to the mortgagee, provided such written request contains a representation that the person requesting the payoff statement is the mortgagor's attorney and that the mortgagor has authorized the request.

(b) If the mortgagee fails to provide [such] the payoff statement on or before such request date, the mortgagee shall not be entitled to the payment of any interest on the mortgage loan which is secured by such mortgage which accrues after the expiration of such request date. If the mortgagee provides the payoff statement to the person requesting the [same] payoff statement after the expiration of such request date, interest on the mortgage loan which accrues after the receipt of [such] the payoff statement by the person who has requested it shall again be payable. The burden of proof shall be on the mortgagor with respect to the receipt by the mortgagee of the mortgagor's request for a payoff statement of the mortgage loan, and thereafter shall be on the mortgagee with respect to the receipt of the payoff statement by the mortgagor or the mortgagor's attorney or other authorized agent.

(c) The mortgagee shall not impose any fee or charge for the first payoff statement requested within a calendar year, unless the mortgagor or the mortgagor's attorney or other authorized agent requests expedited delivery of the payoff statement, agrees to pay a fee for such expedited delivery and the payoff statement is provided by the agreed upon date. "